147,387 Shares in Martin Marietta Materials, Inc. $MLM Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, Holdings Channel reports. The firm acquired 147,387 shares of the construction company’s stock, valued at approximately $84,998,000.

Several other large investors have also bought and sold shares of MLM. OneDigital Investment Advisors LLC bought a new position in Martin Marietta Materials during the 2nd quarter worth $414,000. AMG National Trust Bank bought a new stake in shares of Martin Marietta Materials in the 2nd quarter valued at about $300,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at about $298,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at about $123,359,000. Finally, Flputnam Investment Management Co. bought a new position in shares of Martin Marietta Materials during the second quarter worth about $239,000. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on MLM shares. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Citigroup decreased their target price on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. UBS Group lowered their price target on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Oppenheimer assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating on the stock. Finally, Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a research note on Friday, July 31st. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $668.53.

Martin Marietta Materials Stock Performance

MLM stock opened at $524.52 on Wednesday. The firm has a market cap of $31.51 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $571.62 and a 200-day moving average price of $598.17. Martin Marietta Materials, Inc. has a 1-year low of $522.19 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company earned $5.43 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.16%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.